Homeowners Insurance in Clearwater, Florida (2024)
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- Homeowners Insurance in Clearwater, Florida (2024)
Clearwater is home to some of the best beaches in the country. If the long stretches of white sand make you want to visit, the golfing, fishing and shopping will make you want to stay.
Clearwater is growing every year. It’s a beautiful and lively town with good schools and it’s just a short drive from bigger cities like Tampa and St. Petersburg if you want a change of scenery for the day. The city’s coastal location has a significant drawback, though. Homeowners have to worry about floods and hurricanes.
The threat of natural disasters is why homeowners insurance in Clearwater is such a valuable investment. It protects your property from over a dozen covered perils.
Average Cost of Homeowners Insurance in Clearwater, Florida
The average cost of Clearwater home insurance is $3,666 annually on a $150,000 house, $6,648 on a $300,000 house, and $9,540 on a $450,000 house.
These rates are slightly higher than the Florida state average premiums, which are $3,125 for a $150,000 home, $5,886 for a $300,000 home, and $8,318 for a $450,000 home. Some reports state that Florida residents pay up to five times higher than the national average for homeowners insurance coverage.
Homeowners insurance in Clearwater is a little pricey, but it’s still cheaper than many South Florida cities in Miami-Dade and Palm Beach counties. Let’s take a look at the average cost of some top homeowners insurance companies in Clearwater:
Average Clearwater Homeowners Insurance Rates in 2024 | |||
Company | $150,000 House | $300,000 House | $450,000 House |
Citizens | $2,048 | $3,893 | $5,327 |
People’s Trust | $3,137 | $5,603 | $8,072 |
Progressive | $3,020 | $5,398 | $7,778 |
Safeco | $2,971 | $5,943 | $8,503 |
State Farm | $1,627 | $2,910 | $4,195 |
Universal Property | $3,537 | $6,650 | $9,395 |
Average | $3,666 | $6,648 | $9,540 |
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While these averages are useful, you may pay less or more depending on when your home was built and if you’ve got some wind mitigation measures on your home. Due to Florida’s susceptibility to hurricanes, insurance companies heavily discount premiums for homeowners whose houses will stand up to severe winds better. Read more on wind mitigation and construction aspects of your home below.
The premiums displayed in this article were obtained by the Florida Office of Insurance Regulation. They represent the most recent rate filings from the state’s largest insurers and can be utilized as an average of what Floridians can expect to pay for homeowners insurance each year. The example premiums are based on a policy for a Florida masonry home with a $500 non-hurricane deductible, a 2% hurricane deductible and no claims in the past three years.
Florida Office of Insurance Regulation Rate Factors | |
Home Construction | Coverage Definition |
Wind Mitigation | Measures that strengthen your home’s ability to withstand strong winds from hurricanes and tropical storms. Common wind mitigation features involve roof construction methods, roof connections and attachments, and impact-resistant doors and windows. |
Pre-2001 Construction w/ No Wind Mitigation | These premiums represent Florida homes built in 1990 with no wind mitigation features. |
Pre-2001 Construction w/ Wind Mitigation | These premiums represent Florida homes built in 1990 with maximum wind mitigation features. |
New Construction | These premiums represent Florida homes built in 2005 after the state revamped its construction standards to better combat hurricane-force winds. These homes have limited wind mitigation features and no hip roof. |
Look at average rates for homes valued at $150,000 in Clearwater, divided into three categories based on construction and wind mitigation.
Average Clearwater Homeowners Insurance Rates on a $150,000 House in 2024 | |||
Company | Pre-2001 No Wind | Pre-2001 w/ Wind | 2005-Present |
Citizens | $3,031 | $1,348 | $1,764 |
People’s Trust | $4,683 | $2,219 | $2,509 |
Progressive | $4,510 | $2,343 | $2,207 |
Safeco | $4,116 | $2,329 | $2,469 |
State Farm | $2,516 | $1,323 | $1,042 |
Universal Property | $6,240 | $2,2118 | $2,252 |
Average | $5,766 | $2,698 | $2,535 |
As you can see, wind mitigation can save you thousands of dollars on your home insurance every year. Depending on the state of your home, adding the necessary features might be a sizable initial investment, but it could be worth the cost in the long run.
Some companies had differences of over $2,000 depending on whether the home had wind mitigation or not, and the average rate overall was nearly cut in half.
While the market value of a home isn’t necessarily a clear reflection of its replacement cost, most properties in Clearwater indeed cost over $150,000 and you’ll probably need more coverage.
So, let’s break down what $300,000 and $450,000 worth of Clearwater home insurance could cost.
Average Clearwater Homeowners Insurance Rates on a $300,000 House in 2024 | |||
Company | Pre-2001 No Wind | Pre-2001 w/ Wind | 2005-Present |
Citizens | $5,456 | $2,696 | $3,527 |
People’s Trust | $8,429 | $3,994 | $4,386 |
Progressive | $8,118 | $4,217 | $3,858 |
Safeco | $8,232 | $4,658 | $4,938 |
State Farm | $4,529 | $2,381 | $1,821 |
Universal Property | $11,232 | $4,215 | $4,503 |
Average | $10,443 | $4,943 | $4,557 |
Average Clearwater Homeowners Insurance Rates on a $450,000 House in 2024 | |||
Company | Pre-2001 No Wind | Pre-2001 w/ Wind | 2005-Present |
Citizens | $7,881 | $4,044 | $4,056 |
People’s Trust | $12,176 | $5,769 | $6,272 |
Progressive | $11,726 | $6,092 | $5,517 |
Safeco | $12,348 | $6,987 | $6,173 |
State Farm | $6,542 | $3,440 | $2,604 |
Universal Property | $16,224 | $6,333 | $5,629 |
Average | $15,119 | $7,191 | $6,310 |
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It’s Time to Switch Your Homeowners Insurance
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Clearwater Homeowners Insurance Coverages
When you pay your homeowners bill, you’re paying for much more than the protection of your house. If you purchase a policy through Clovered, a typical homeowners insurance plan incorporates all of the following:
Clearwater Homeowners Insurance Coverages | |
Coverage | Definition |
Dwelling Coverage | Dwelling coverage financially protects your home’s physical structure, including the roof, flooring, balconies, HVAC, and more, from covered perils. |
Other Structures Coverage | Other structures coverage guards fixtures on your property unattached to the main house, like pools, fences, sheds, and detached garages. |
Personal Property Coverage | Personal property coverage safeguards your belongings, like furniture, clothing, electronics, and jewelry, from theft and damage. |
Loss of Use Coverage | Loss of use coverage helps cover living expenses if you’ve been forced out of your home after it suffers significant damage from a covered peril. Your carrier can reimburse you for temporary lodging, groceries, and more. |
Liability Coverage | Liability coverage assists if you’ve been found responsible for someone’s injuries or property damage in a lawsuit. Your insurer can pay medical bills, legal fees, and more. |
Medical Payments Coverage | Medical payments coverage can pay for small medical bills if someone gets hurt around your property without the need for legal liability. |
Considering these aspects of coverage, Clearwater home insurance seems like a pretty good deal, especially if you use Clovered’s online quote engine to compare plans from top providers and find the best ways to save.
How to Find the Best Homeowners Insurance Agency in Clearwater, Florida
Clovered is a digital homeowners insurance agency in Clearwater, Florida that operates in the Sunshine State and beyond, offering an easy-to-use online quoting tool. You can receive a quote tailored to your needs in about three minutes and compare this with top providers around the state.
Clovered is also home to a team of licensed agents available by phone at 833-255-4117 or email at [email protected] that can answer any questions you may have. We, along with our partners, try to give you coverage you need at the price you want.
Factors to Consider When Buying Home Insurance in Clearwater
As mentioned previously, insurance companies put a lot of time and effort into determining rates. No two policyholders are exactly the same. There are several factors a provider considers when pricing a premium and some may seem more obvious than others:
- Age of your home
- Condition of your roof
- Your credit and claims history
- The extent of coverage and deductible you choose
- If your provider has seen an unexpected increase in claims as a company
In addition to these influences, the type of dog breed you own and certain features of your home, like installing a pool or owning a trampoline, can also raise your premium. In Clearwater specifically, homeowners insurance is affected by some weather-related hazards you can come across, too.
Flood Insurance in Clearwater
According to the Federal Emergency Management Agency (FEMA), much of the land in Clearwater and nearly all of Clearwater Beach is prone to flooding. Flood zones, as determined by FEMA, affect flood insurance rates and requirements. If you live in a high-risk zone, your mortgage lender may require you to get flood insurance.
This is because damage from heavy rains or storm surge flooding isn’t covered by a standard homeowners insurance policy. Flood insurance in Clearwater guards the structure of your home and personal belongings inside your house.
In 2024, FEMA recognized Pinellas County, which includes Clearwater, for having some of the best flood mitigation efforts in Florida. The county’s efforts have earned Clearwater residents up to a 40% discount on their flood insurance policies.
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Clearwater Hurricane Season
Clearwater is situated in one of the most hurricane-prone areas of the state. From June to November, residents usually have to keep their eyes on the weather radar to be ready for the next tropical storm or hurricane. While the area hasn’t been directly hit in a while, it still felt the effects of recent storms like Hurricane Irma in 2017.
A typical Clearwater home insurance plan will cover hurricane damage sustained from strong winds or debris. The continuous risk of hurricanes in Florida is one reason premiums are generally so high. It’s important to note that when filing for hurricane damage, you’ll have to deal with a hurricane deductible.
You’ll still have to pay a hurricane deductible prior to your insurer covering the rest of the damage, but it’s usually more than a standard home insurance deductible because it’s usually based on a percentage of your dwelling coverage. The more coverage you have, the higher your Clearwater homeowners insurance hurricane deductible may be.
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We partner with the nation's top homeowners insurance companies so you can get a custom policy at an affordable price.
The editorial content on Clovered’s website is meant to be informational material and should not be considered legal advice.